Taxable Benefits Calculation Component

Each benefit type has a corresponding calculation component where you enter the required data that generates the cash equivalent value for that benefit.

You can report this in P11D or it is added as a taxable benefit to the employee’s taxable pay during the payroll run.

1. In the Payroll section, select Calculation Cards.
2. Enter and search for the person's name and legislative data group in the Search section.

3. Click the person's name in the Search Results. Any available calculation cards appear in the Search Results.

4. Click Create to open the Create Calculation Card window.

5. In the Name field, select Taxable Benefits and enter the effective date.

6. Click Continue to display the Calculation Cards page.

   Note: Use the Calculation Card Overview pane to view the component groups associated with this calculation card.

7. In the Calculation Component section, click Add Row to open the Create Calculation Component window.

8. Select the required calculation component from the list of benefits.

9. Click OK.

10. Configure the calculation component details for each benefit and define associations, if required.